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Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Company") is pleased to announce that, further to its press releases of May 25, 2016 and May 31, 2016 and subject to receipt of all required regulatory approvals, it intends to increase the size of its previously announced offering to up to an aggregate of $1,381,000. The unit ("Unit") portion of the offering at a price of $0.20 per Unit will increase to aggregate gross proceeds of up to $601,000 and the CEE flow-through share portion of the offering at a price of $0.25 per CEE flow-through share will increase to aggregate gross proceeds of up to $550,000. In addition, the Company is pleased to announce that, subject to regulatory approvals, it intends to issue and sell up to 1,045,455 common shares ("CommonShares") of the Company issued on a "CDE flow-through" basis pursuant to the Income Tax Act (Canada) ("CDEFlow-ThroughShares") at a price of $0.22 per CDE Flow-Through Share for aggregate gross proceeds of up to $230,000. Finally, the Company wishes to announce that it will no longer be completing its previously announced $100,000 debenture offering. The offering of the Units, CEE flow-through shares and CDE Flow-Through Shares are hereby collectively referred to as the "Offering".

Each Unit will consist of one Common Share and one Common Share purchase warrant ("Warrant"). Each whole Warrant will expire 24 months from the closing date of the Offering, and will entitle the holder to acquire one Common Share at a price of $0.30 per Common Share.

The Company anticipates that it will pay a finder's fee on certain subscriptions under the Offering in the amount of 6% cash on the proceeds received from certain subscribers and 6% finder's warrants.

Proceeds of the Offering will be used on the Company's summer 2016 work program on its Jersey-Emerald Property (the "Property"), located near Salmo, British Columbia, which will focus on the Property's lead-zinc prospects. The securities issued pursuant to the Offering are subject to a four month hold period under applicable securities laws.

Permitting is currently in process for both underground and surface exploration programs. Ed Lawrence, previous Jersey mine manager and Margaux director, is working with Perry Grunenberg in program planning and will oversee the underground drift work. Perry Grunenberg is Margaux's "Qualified Person" for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Margaux Resources Ltd.: Margaux is a publicly traded mineral exploration company based in Calgary, Alberta. The Company has an option on the previously producing Jersey Emerald tungsten-zinc mine, located in southeastern British Columbia.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: risks associated with future equity financings, the ability to close the Offering in the amount anticipated or at all, Margaux's exploration plans and work commitments, the receipt of required regulatory and other approvals as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.